The cross-border concerns weighing on ultra-wealthy families

Our research reveals that international footprints are reshaping how many ultra-high-net-worth families protect, structure and sustain their wealth.

13 October 2025

5 mins

Private bank

Shifting tax, regulatory and market conditions are affecting the decision-making of wealthy families. According to our survey of more than 300 ultra-high-net-worth (UHNW) individuals and family office professionals, families are re-evaluating whether their family office locations are in the right places and whether their cross-border succession plans remain fit for purpose.

The case for relocation

More than half of UHNW families (54 per cent) say they are considering relocating some of their family offices this year. Aside from proximity to family members, the research suggests there are three main factors influencing family office location decisions.

First, there is the local tax environment. “It’s all about the different tax regimes and how localised regulation differs by country,” says a head of family with a Hong Kong-based family office. “Capital gains treatment and trust legislation are especially challenging – we end up spending a lot of money on external advisers to navigate them.”

Second, there is access to talent. Family members considering relocating some of their family offices are concerned about the availability of wealth management talent. They are 24 percentage points more likely than other respondents in the research to say that talent availability will affect their family’s wealth over the next 18 months.

Third, the research suggests that growth potential may be a factor. Families with lower investable assets are more likely to be considering branch relocation, and five percentage points less likely to believe their family office can evolve to meet the changing demands of the next three years.

“Geographically, we’re well networked across our markets of interest,” says a head of family with a Dubai-based family office. “We have branches in London and Hong Kong, which helps to diversify and deepen our access to deal flows in those regions.”

“Relocating a family office is not a silver bullet. The pace of regulatory change is not slowing down, and unexpected shocks can emerge at any time. Families need to weigh trade-offs carefully with their advisers to ensure long-term resilience.”

—Mike Tan, Global Head of Wealth Planning and Family Advisory, Standard Chartered Global Private Bank.

Relocation comes with both risks and rewards. Thorough due diligence that draws on a range of credible sources will be essential for UHNW families to make informed choices and prepare for likely outcomes. Yet one valuable source of insight may be overlooked. Family office professionals are 17 percentage points less likely than family members to say that relocation is on the table, suggesting that they are often being excluded from these discussions.

The cost of succession plan gaps

Wealthy families recognise that their international footprints could shape their legacies, yet many may be underestimating the importance of professional support. Family office professionals are 7 percentage points more likely than family members to say that adequate planning could create these savings, and 77 per cent of UHNW families say their approach to succession is driven mostly by personal opinions and experience.

An overreliance on personal judgement can create blind spots. Treating succession planning as a “one and done” exercise risks leaving strategies outdated by the time they are enacted, especially as tax rules, regulation and family dynamics continue to evolve.

“Our succession plan has been in hand for years,” says one head of family with a Singapore-based family office. “We are about to put it through a family review. It will then go to the office for execution and support. The global environment today is emphasising preparedness for issues that simply were not around two years ago.”

Alongside reviews, professionalising the process can help to close critical gaps. Family members who take a more institutional approach to investment decisions, relying more on professional advice than on personal opinions, are 11 percentage points more likely to say that better planning around cross-border assets could save millions at the point of succession.

Trust in technology also plays a part. Families who trust artificial intelligence (AI) tools to support decision-making are 17 percentage points more likely than those who do not to say that better planning around cross-border assets could deliver significant financial savings.

As UHNW families and their assets continue to straddle borders in a rapidly evolving global landscape, cross-border decisions can have million-dollar consequences. Both family office location and succession planning play critical roles in ensuring long-term wealth resilience. To safeguard their legacies and seize new opportunities, families will need to treat these decisions not as one-off tasks, but as continuous, adaptive strategies.

This article is produced in collaboration with FT Longitude, the specialist research and content marketing division of the Financial Times Group.